AvalonBay Communities (NYSE:AVB) was downgraded by investment analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a report released on Friday, The Fly reports.
AVB has been the topic of a number of other reports. UBS Group raised AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their price objective for the company from $190.00 to $206.00 in a report on Thursday, November 9th. Mizuho reissued a “buy” rating and issued a $220.00 price objective on shares of AvalonBay Communities in a report on Monday, November 6th. BMO Capital Markets reissued a “hold” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a report on Wednesday. SunTrust Banks set a $194.00 price objective on AvalonBay Communities and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, JPMorgan Chase & Co. lowered AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price objective on the stock. in a report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $197.88.
AvalonBay Communities (NYSE AVB) opened at $164.11 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $23,530.18 and a PE ratio of 25.80. AvalonBay Communities has a 1-year low of $163.80 and a 1-year high of $199.52.
In other AvalonBay Communities news, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $181.89, for a total transaction of $363,780.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Bartlett & Co. LLC boosted its position in AvalonBay Communities by 112.8% during the fourth quarter. Bartlett & Co. LLC now owns 681 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 361 shares in the last quarter. Amica Retiree Medical Trust purchased a new position in AvalonBay Communities during the third quarter worth approximately $132,000. WFG Advisors LP boosted its position in AvalonBay Communities by 24.9% during the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in AvalonBay Communities during the second quarter worth approximately $226,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in AvalonBay Communities during the third quarter worth approximately $227,000. Institutional investors own 94.81% of the company’s stock.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
